Remuneration committees, shareholder dissent on CEO pay and the CEO pay-performance link

被引：20
|
作者：
Kent, Pamela [1 ]
Kercher, Kim [2 ,3 ]
Routledge, James [2 ,4 ]
机构：
[1] Univ Adelaide, Business Sch, Adelaide, SA, Australia
[2] Bond Univ, Bond Business Sch, Gold Coast, Qld, Australia
[3] Univ Queensland, UQ Business Sch, Brisbane, Qld, Australia
[4] Hitotsubashi Univ, Fac Commerce & Management, Tokyo, Japan
来源：
ACCOUNTING AND FINANCE | 2018年 / 58卷 / 02期
关键词：
Remuneration Committee; CEO Remuneration; Shareholder Dissent; CORPORATE GOVERNANCE; EXECUTIVE-COMPENSATION; FIRM PERFORMANCE; BOARD GOVERNANCE; AGENCY COSTS; OWNERSHIP; SAY; INDEPENDENCE; DISCLOSURE; POWER;
D O I：
10.1111/acfi.12222
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
We provide evidence on whether the adoption of the full Australian Securities Exchange recommendations for remuneration committee formation and structure are associated with a lower shareholder dissenting vote or a stronger CEO pay-performance link. We find some evidence that a minority- and majority-independent remuneration committee and a committee size of at least the recommended three members are associated with lower shareholder dissent. Companies with an independent committee have a stronger CEO pay-performance link. In addition, a majority-independent committee strengthens the link between performance and growth in CEO pay.
引用
收藏
页码：445 / 475
页数：31
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